Corporate Bond Portfolio and Investment Analysis

Free Surplus of $16.3b After $3.6b Shareholder Returns Free Surplus Movement ($b) Shareholder Returns + 3.3 (0.7) 17.9 (0.2) Underlying Free Surplus Generation +10% per share +$2.0b $3.6b AIA (0.2) (0.3) + 0.2 19.9 (1.7) (2.0) 16.3 Free Surplus End of 2022 Acquisitions Underlying Free Surplus Generation New Business Investment Unallocated Group Office Expenses Finance Costs and Others Note: Due to rounding, numbers presented in the chart may not add up precisely Investment Return Variances and Other Non-operating Items Free Surplus Before Dividend Dividend Paid Share Buy-back Free Surplus End of 1H23 and Share Buy-back 32 32

View entire presentation